Cordova Nuclear Plant's Fate Up in the Air
Officials at the nuclear power plant in Cordova are disappointed its bid was rejected in an auction last week. Spokesman Bill Stoermer says the Quad Cities Generating Station is one of three Exelon plants that will not receive guaranteed revenue for power capacity in 2018-2019.
He says it's the second time the Cordova plant's bid has not "cleared." Grid operator, PJM, also rejected its bid in the 2017-18 auction. So Exelon will have to sell the plant's power on the open market.
Exelon says the Quad Cities nuclear plant has lost more than $300 million in the last five years. And Stoermer says in October, the company must tell the grid operator whether it will bid in future auctions.
In the next couple of weeks, the Cordova plant will bid for capacity payments in two supplementary auctions for 2016-17 and the following year.
The Cordova plant has held many meetings to tell employees what's going on. Stoermer says workers have been told not to worry about whether Illinois lawmakers pass a bill to help keep the plant open, and to continue doing their jobs as usual.